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Part II. (12 points) On January 1, 2015, Barone Company issued ten-year bonds with a face value of $800,000. The bonds carry a stated interest
Part II. (12 points) On January 1, 2015, Barone Company issued ten-year bonds with a face value of $800,000. The bonds carry a stated interest rate of 7%, with interest annually, payable each January 1 . Barone uses the straight-line method of amortizing bond premium or discount. Financial statements are prepared December 31 (a) Prepare the journal entries for the issuance of bonds at 97 and the accrual of interest on Dec 31, 2015 General Journal Date Account Title Debit Credit (b) Prepare the journal entries for the issuance of bonds at 102 and the accrual of interest on Dec 31, 2015 General Journal Debit Credit Date Account Title At Part II Continued o Prepare all appropriate journal entry for the bonds on January 1.2025, assume bonds issued at 102 General Journal Date Account Title Debit Credit
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